Nintendo announces heavy forecast cuts for Wii U and 3DS
Nintendo’s latest financial results won’t be published until January 30, but the company did announce significant changes to its financial targets today.
Here’s a roundup of the pertinent information:
– Nintendo expected to sell 18 million units of 3DS between April 2013 and March 2014
– Now reduced to 13.5 million
– Software forecasts down from 80 million to 66 million
– Nintendo told investors it would sell 9 million Wii U units between April 2013 and March 2014
– Down to 2.8 million units
– Wii U software forecast down from 38 million to 19 million
– Nintendo was unable to boost 3DS hardware sales in the west significantly during the end-of-year holiday season
– Wii U sales were up during the holidays, but not enough for Nintendo to be able to hit their forecasts by the end of the fiscal year
– Expected net income of 55 billion yen changed to net loss of 25 billion yen
– Instead of posting an operating profit of 100 billion yen, the company expects to post an operating loss of 35 billion yen
– Nintendo president Satoru Iwata says the company will discuss its short-term and mid-term strategy at its next financial results meeting on January 30th
